Question

Please make chart similar to this one so I can understand how it was solved. label each chart either accounts payable, accounts receivable, cash, fee income, Julie Yong Capital, Julie Young Drawing, Office Supplies, Rent Expense, Salary Expense, Telephone Expense.

Transaction 1. Purchased office supplies for $1,700 in cash. Transaction 2. Delivered monthly statements collected fee income of 27,500 Transaction 3. Paid the current month's office rent of $3,700 Transaction 4. Completed professional counseling, billed client for S4,300 Transaction 5. Client paid fee of $2,300 for weekly counseling, previously billed Transaction 6. Paid office salary of $3,300. Transaction 7. Paid telephone bill of $450. Transaction 8. Billed client for S3,300 fee for preparing a counseling memorandum. Transaction 9. Purchased office supplies of $970 on account Transaction 11. Collected $3,300 from client who was billed. Put answers of each in this chart so i can understand please!

Answer 1

Journal Entries:

Journal Entries For Student Understanding Transaction Account Title Debit Credit No Supplies $ 1,700 $ 1,700 Cash $ 27,500 2 Cash $ 27,500 Fee ncome Rent Expense $3,700 Cash 3,700 Accounts 4 Receivable $4,300 $ 4,300 Fee ncome $ 2,300 5 Cash Accounts $ 2,300 Receivable Salaries $3,300 6 expense Cash 3,300 Telephone 7 expense $ 450 Cash 450

Journal Entries:

Journal Entries For Student Understanding Transaction Account Title Debit Credit No Accounts 8 Receivable $3,300 $3,300 Fee Income 9 Supplies $ 970 Accounts Payable 970 Salaries 10 expense 3,300 $3,300 Cash $3,300 11 Cash Accounts $3,300 Receivable

T-accounts:

T-accounts Cash 2 $ 27,500 5 $ 2,300 11 $ 3,300 1 $ 1,700 3 $ 3,700 6 3,300 7 $450 10 $ 3,300 Ending Balance 20,650 Fee Income 2 $ 27,500 4 S 4,300 Ending Balance35,100 8 3,300 Supplies 1 1,700 Ending 970 Balance 2,670 9

T-accounts:

Accounts Receivable 5 $ 2,300 11 $ 3,300 4 4,300 8 3,300 Ending Balance2,000 Accounts Payable 9 $970 Ending 970 Balance $ Salaries Expense 6 $ 3,300 10 $ 3,300 Ending Balance 6,600 Rent Expense 3 $3,700 Ending Balance3,700 Telephone Expense 450 Ending 450 Balance $